Experimental Software
openOracle and openLend are experimental, unaudited software. The protocol is in active development and has not undergone formal security audits. You should assume the smart contracts contain undiscovered vulnerabilities. Do not deposit funds you cannot afford to lose. Participation in experimental DeFi protocols carries extreme risk.No Warranty
The openLend smart contracts and associated software are provided “AS IS” and “AS AVAILABLE” without warranty of any kind, express or implied, including but not limited to warranties of merchantability, fitness for a particular purpose, title, or non-infringement. The entire risk as to the quality and performance of the protocol is with you.No Fiduciary Duty
Nothing in these terms or your use of the protocol creates any fiduciary relationship between you and the openOracle contributors, developers, or any affiliated parties. No party owes you any duty of loyalty, care, or disclosure beyond what is explicitly stated herein. Contributors have no obligation to act in your best interest, provide advice, or prioritize your outcomes over their own. Any information provided in documentation, social channels, or elsewhere is for informational purposes only and does not constitute financial, legal, or investment advice.Assumption of Risk
By interacting with openLend smart contracts and the UI, you acknowledge and accept the following risks: Smart contract risk: Despite security efforts, smart contracts may contain bugs, vulnerabilities, or behave unexpectedly. Code is law. Transactions are irreversible. Lending parameter risk: openLend is permissionless and isolated per arrangement. Borrowers and lenders are responsible for choosing safe values for the liquidation threshold, interest rate curve, oracle parameters, stake, and commitment fraction. Poorly chosen parameters can result in unliquidatable bad debt for lenders or hostile-priced liquidations for borrowers. Oracle settlement risk: Liquidations depend on openOracle price discovery. The oracle game is itself an economic mechanism with its own risks (see the openOracle and Game disclaimers). Misconfigured oracle parameters at borrow time can cause liquidations to settle at the wrong price. Liquidation risk: Callingliquidate puts a stake at risk. If the oracle resolves to a healthy price, the stake is forfeit. Liquidators must independently verify that a position is underwater before initiating.
Counterparty timing risk: The rate curve, refinance terms, and liquidation auctions can change between the time a transaction is simulated and the time it lands. Use the supplied paramHashExpected, minRate, expectedMinSupply, expectedMaxPrincipal, and amount-bound parameters to defend against unfavorable state changes.
Token support risk: Only vanilla ERC20 and USDT-style tokens are supported. Rebasing tokens, fee-on-transfer tokens, and any token whose post-transfer balance does not match the requested amount will break accounting and result in loss of funds.
Blockchain risk: Network congestion, chain reorganizations, hard forks, or protocol-level changes may affect contract behavior.
UI Risk: The UI may have bugs, vulnerabilities, or behave unexpectedly. Blockchain transactions are irreversible.
No Custodial Relationship
openLend is a permissionless, non-custodial protocol. No individual, team, or entity:- Has custody or control over user funds
- Can pause, upgrade, or modify deployed contracts
- Can reverse, cancel, or alter any transaction
- Provides any form of customer support obligation
Limitation of Liability
To the maximum extent permitted by applicable law, no contributor shall be liable for any damages arising from use of the protocol.MIT License
The openLend source code is released under the MIT License. This permissive license grants rights to use, copy, modify, and distribute the software but explicitly provides NO WARRANTY. See the license text in the repository for full terms.Your Responsibility
Before participating in openLend, you are responsible for:- Understanding the rate curve, commitment floor, and refinance mechanics
- Verifying the oracle parameters configured on a loan you intend to lend against or liquidate
- Verifying that a position is underwater before initiating a liquidation
- Monitoring your loans and liquidations for state changes
- Ensuring sufficient gas, token balances, and approvals
Sanctions & Restricted Jurisdictions
You represent and warrant that you are not:- located in, ordinarily resident in, or organized under the laws of any jurisdiction where access to the Interface is prohibited, including jurisdictions subject to comprehensive sanctions or embargoes; and
- a person or entity that is the target of sanctions administered by the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”), the U.S. Department of State, the United Nations, the European Union, or any other applicable sanctions authority; and
- owned or controlled (directly or indirectly) by, or acting on behalf of, any such sanctioned person.